An increasing amount of investors are excited at the opportunity to invest in Saint Lucia. This volcanic island in the eastern Caribbean Sea has fast become a sought-after choice for those seeking to broaden their horizons through dual citizenship.
Also Read: Saint Lucia fast becoming ideal Citizenship by Investment location
Welcome to the club
Launched in 2016, Saint Lucia’s Citizenship by Investment Programme is the newest in the Caribbean. Fortunately, Saint Lucia has been able to implement best practices observed from surrounding countries which have decades’ worth of experience.
Business in Saint Lucia
Saint Lucia has been commended for its advanced and modernized infrastructure. Its robust healthcare and educational systems have also received many compliments.
These are the primary exports in Saint Lucia:
- Bananas
- Cardboard products
- Coconut products
- Electronic goods, and
- Clothing.
The nation’s main trading partners include the United Kingdom, the United States, Dominica, Trinidad and Tobago, and Barbados. Saint Lucia imports fuel, food, and manufactured goods.
Saint Lucia ranked third in the CBI Index 2022 report
The CBI Index is a reputable rating system that ranks the performance of CBI programmes using various indicators. 2022 saw Saint Lucia claim the third spot in The CBI Index report!
Out of the nine pillars of the CBI Index, Saint Lucia secured top spots in:
- Minimum investment outlay
- Ease of processing
- Mandatory travel, and
- Residence.
Saint Lucia according to the nine pillars of the CBI Index
Here’s a simple breakdown of the nine pillars as they pertain to Saint Lucia:
- Freedom of movement. Saint Lucia is a parliamentary democracy. This means that there are no major barriers to an individual’s freedom of movement when it comes to changing their place of
- residence
- employment or
- education.
- Standard of living. Saint Lucia has a low cost of living in comparison to the US and the UK. Benefits also include a favourable tax regime and a relatively high quality of living for expats.
- Minimum investment. With a minimum investment US$100,000 for a single applicant, Saint Lucia offers one of the most affordable investment options.
- Mandatory travel or residence. There is no residency or travel requirement for Saint Lucia, and you are not obliged to physically stay in Saint Lucia at any stage before or after the application process.
- Citizenship timeline. Due to the swift application process, successful applicants could gain Saint Lucian citizenship in as little as 90 days. All successful applicants receive lifetime citizenship and will always be able to live and work in Saint Lucia.
- Ease of processing. The application process for Saint Lucia is streamlined and efficient. It consists of seven steps, which can be found here.
- Due Diligence. Saint Lucia has taken the necessary measures to ensure that the integrity of the CBI programme is of an increasingly high standard. They have recently introduced biometric passports to further their due diligence.
- Family. As a successful applicant, you’re able to obtain citizenship for your spouse, dependent children (under 25), and parents (over 65). Kindly note that each dependent does come at an additional price.
- Certainty of product. This pillar refers to the stability, popularity, renown, reputation, and adaptability of the programme. Saint Lucia scored an 8/10.
Citizenship by Investment in Saint Lucia
The country’s CBI programme provides countless opportunities to investors who do not want border restrictions to limit their business. When it comes to investing in Saint Lucia, there are four main options to choose from: The National Economic Fund (NEF), investing in real estate, pre-approved enterprise projects, or government bonds.
Investing in Saint Lucia is relatively straightforward. The numerous investment options means that you’re likely to find something best suited to you in a short amount of time.
Other notable advantages of the CBI programme include:
- Dual citizenship. Saint Lucia recognises dual citizenship so you will comfortably be able to hold two nationalities.
- Reasonable taxation. There is no inheritance, wealth, or capital gains tax.
- Invest after citizenship approval. Unlike some other CBI programmes, you will only need to make your investment after you have received your citizenship.
- Straightforward, remote application. No travel is required, and all paperwork can be done remotely.
- High quality of life. The island has seen an increase in foreign expats relocating to this tropical paradise – mostly coming from the US and Canada. Saint Lucia’s expat community is one of the friendliest on the globe and the high quality of life and relatively low crime rate makes it ideal for the whole family.
Should I invest in Saint Lucia?
With one of the Caribbean’s fastest growing economies, and extensive investment and business opportunities, Saint Lucia should be on every discerning investor’s radar. If you are looking to diversify your portfolio, increase your wealth, or provide better options for your family, reach out to one of our specialists today.
